SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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RED HAT, INC.
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The following updated form communication was used by Red Hat, Inc. for its customers:
On October 28, 2018, we made a very exciting announcement about the future of Red Hat. Red Hat and IBM have signed an agreement to combine and create a leading hybrid cloud provider that will provide customers with modern and flexible open source solutions that enable them to build any application, deploy anywhere and transform their business. Together, IBM and Red Hat aim to accelerate customer solutions across IT environments including physical, virtual, private, and multi-public, and the combined company will be uniquely positioned at the forefront of the hybrid cloud development and management market.
We expect IBMs scale and resources will enable us to extend our reach and accelerate our growth, all while maintaining our unwavering commitment to open source communities, innovation and delivering the choice and flexibility that modern IT requires. Red Hat will remain an independent, standalone unit of IBM and Red Hat president and CEO Jim Whitehurst will report to IBM chair, president, and CEO Ginni Rometty.
Red Hat and IBM are longtime partners - our work together spans more than 20 years. We share the same fundamental goal to deliver the best possible solutions to our customers. Together with IBM, we will continue to be a trusted resource for developers, and a partner to our customers as they build modern, hybrid cloud infrastructures, deliver cloud-native apps, and manage and automate their IT environments using Red Hat technology. We expect the variety of perspectives, expertise, and experience we each bring to be a significant advantage for us as a combined company. We think this combination with IBM will make us an even better Red Hat, not only enabling us to accelerate the growth of open source and its impact as the basis for digital transformation, but also enhance our ability to deliver even more open source innovation to customers at scale.
Red Hat and IBM will remain separate and independent organizations until a closing, and we each will continue to make our own separate product and business decisions until then. In short, Red Hat will continue to work in the ordinary course with our clients, partners and other stakeholders. So, Red Hat has no current intention or plan to change our product lines as a result of the announcement of the merger agreement or the closing. We understand from communications with IBM that IBM also has no such intention or plan.
It is business as usual at Red Hat and our customers remain a top priority. The agreements that you have entered into or may enter into with Red Hat will remain in effect in accordance with their terms. If you have any questions about this announcement, [please do not hesitate to reach out to your usual contact // insert appropriate direction]. Until this transaction has closed and all necessary approvals have been granted, Red Hat and IBM will continue to operate separately. Red Hats operations, including Global Support Services, remain unchanged.
Thank you for your support. We look forward to partnering with you for many years to come.
Important Additional Information and Where to Find It
In connection with the proposed merger, Red Hat, Inc. (the Company) intends to file relevant materials with the Securities and Exchange Commission (the SEC), including a preliminary proxy statement on Schedule 14A. Following the filing of the definitive proxy statement with the SEC, the Company will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the proposed merger. STOCKHOLDERS ARE URGED TO CAREFULLY READ THESE MATERIALS IN THEIR ENTIRETY (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The proxy statement and other relevant materials (when available), and any and all documents filed by the Company with the SEC, may be obtained for free at the SECs website at www.sec.gov. In addition, stockholders may obtain free copies of the documents filed with the SEC by the Company via the Companys Investor Relations section of its website at www.redhat.com or by contacting Investor Relations by directing a request to the Company, Attention: Investor Relations, 100 East Davie Street, Raleigh, North Carolina 27601, or by calling (919) 754-3700.
Participants in the Merger Solicitation
This document does not constitute a solicitation of proxy, an offer to purchase or a solicitation of an offer to sell any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The Company, its directors, executive officers and certain employees may be deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the proposed merger. Information about the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of the Companys stockholders in connection with the proposed merger, and any interest they have in the proposed merger, will be set forth in the definitive proxy statement when it is filed with the SEC. Additional information regarding these individuals is set forth in the Companys proxy statement for its 2018 Annual Meeting of Stockholders, which was filed with the SEC on June 25, 2018, and its Annual Report on Form 10-K for the fiscal year ended February 28, 2018, which was filed with the SEC on April 26, 2018. These documents may be obtained for free at the SECs website at www.sec.gov, and via the Companys Investor Relations section of its website at www.redhat.com.
Cautionary Statement Regarding Forward-Looking Statements
This document may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements relating to the completion of the merger. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as expect, anticipate, intend, plan, believe, seek, see, will, would, target, similar expressions, and variations or negatives of these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the consummation of the proposed merger and the anticipated benefits thereof. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements, including the failure to consummate the proposed merger or to make any filing or take other action required to consummate such merger in a timely matter or at all. The inclusion of such statements should not be regarded as a representation that any plans, estimates or expectations will be achieved. You should not place undue reliance on such statements. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, that: (1) the Company may be unable to obtain stockholder approval as required for the merger; (2) conditions to the closing of the merger, including obtaining required regulatory approvals, may not be satisfied or waived on a timely basis or otherwise; (3) a governmental entity or a regulatory body may prohibit, delay or refuse to grant approval for the consummation of the merger and may require conditions, limitations or restrictions in connection with such approvals that can adversely affect the anticipated benefits of the proposed merger or cause the parties to abandon the proposed merger; (4) the merger may involve unexpected costs, liabilities or delays; (5) the business of the Company may suffer as a result of uncertainty surrounding the merger or the potential adverse changes to business relationships resulting from the proposed merger; (6) legal proceedings may be initiated related to the merger and the outcome of any legal proceedings related to the merger may be adverse to the Company; (7) the Company may be adversely affected by other general industry, economic, business, and/or competitive factors; (8) there may be unforeseen events, changes or other circumstances that could give rise to the termination of the merger agreement or affect the ability to recognize benefits of the merger; (9) risks that the proposed merger may disrupt current plans and operations and present potential difficulties in employee retention as a result of the merger; (10) risks related to diverting managements attention from the Companys ongoing business operations; (11) there may be other risks to consummation of the merger, including the risk that the merger will not be consummated within the expected time period or at all which may affect the Companys business and the price of the common stock of the Company; and (12) the risks described from time to time in the Companys reports filed with the SEC under the heading Risk Factors, including the Annual Report on Form 10-K for the fiscal year ended February 28, 2018, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and in other of the Companys filings with the SEC. Such risks include, without limitation: the effects of competition in the businesses in which the Company operates; the Companys ability to adapt to a rapidly changing industry and maintain strategic relationships with industry leading
companies; and the impacts of security breaches and data loss and our vulnerability to technology infrastructure failures. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on the Companys financial condition, results of operations, credit rating or liquidity. These risks, as well as other risks associated with the proposed merger, will be more fully discussed in the proxy statement that will be filed with the SEC in connection with the proposed merger. There can be no assurance that the merger will be completed, or if it is completed, that it will close within the anticipated time period or that the expected benefits of the merger will be realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which such statements were made. Except as required by applicable law, the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances arising after such date.